HomeBusinessCMS Info Systems IPO Subscribed 1.24 Times On Final Day Of Issue

CMS Info Systems IPO Subscribed 1.24 Times On Final Day Of Issue

CMS Info Systems IPO Subscribed 1.24 Times On Final Day Of Issue

CMS Info provides money administration providers.

New Delhi: The preliminary public providing (IPO) of money administration firm CMS Info Systems — which opened for subscription on December 21 — garnered a tepid response from retail traders on the ultimate day of bidding. The preliminary share sale on Thursday attracted bids for 4.67 crore fairness shares towards the IPO dimension of three.75 crore shares, being subscribed 1.24 instances. 

As of 1:02 pm, retail particular person traders’ portion was subscribed 1.69 instances, and non-institutional traders’ class was subscribed 0.24 instances.

The portion reserved for certified institutional patrons was subscribed 1.22 instances.

The value band for the general public supply has been stored at Rs 205-216 a share. Investors can bid for at least 69 shares and in multiples of 69 thereafter. Retail traders can make investments a minimal of Rs 14,904 in a single lot, and a most of Rs 1,93,752 in 13 tons.

The Rs 1,100-crore IPO is an entire supply on the market by promoter Sion Investment Holdings – which holds 100 per cent stake within the firm. 

CMS Info provides money administration providers like ATM providers, money supply and pick-up. It caters to a broad set of outsourcing necessities for banks, monetary establishments, organised retail and e-commerce firms in India.

Axis Capital, DAM Capital Advisors, Jefferies India, and JM Financial are the e-book working lead managers to the problem.

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